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Be it ever so humble, there’s no place like home

The story, in the current issue of the magazine, examines proposed legislation that would change where companies can file for bankruptcy protection. Right now, most bankruptcy filings take place in Wilmington, Del. and New York–even if the company is headquartered or does most of its business elsewhere. In the process, New York- and Delaware-based firms specializing in bankruptcies have grown quite large. Consequently, because they are the only game in town, most of these firms charge high fees.

Some lawyers and lawmakers are trying to change that. They would like to see companies file for bankruptcy closer to home, in the jurisdiction where they are headquartered. This would shift business away from the giant firms in Manhattan and Wilmington to more modest-sized, less expensive, local law firms.

Art direction by Debora Clark. Some sketches below:

Using the courthouse next door. What became the final grew out of this idea.

New York and Delaware defending themselves.

A basketball-themed idea. One of my first thoughts when I read the ‘Home Court’ headline.